Salesforce, Inc. (NYSE:CRM) Shares Purchased by Allstate Corp

Allstate Corp increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 3,301.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,368 shares of the CRM provider’s stock after buying an additional 27,534 shares during the quarter. Allstate Corp’s holdings in Salesforce were worth $9,484,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nvest Financial LLC grew its position in shares of Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares in the last quarter. OMC Financial Services LTD grew its holdings in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after acquiring an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC raised its stake in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC lifted its position in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $298,055.16. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,534,090. The trade was a 1.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of the transaction, the insider now owns 29,190 shares of the company’s stock, valued at approximately $8,416,644.60. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,660 shares of company stock valued at $14,095,336. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $270.04 on Friday. The company has a 50-day moving average of $309.39 and a 200-day moving average of $310.68. The firm has a market cap of $259.51 billion, a price-to-earnings ratio of 44.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a $0.42 dividend. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.62%. Salesforce’s payout ratio is 25.16%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRM. Macquarie restated a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. Wedbush reissued an “outperform” rating and set a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Wells Fargo & Company reduced their price objective on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Truist Financial reiterated a “buy” rating and set a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group raised their price target on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.